MCQ

Foreign Trade MCQ - Practice Questions with Answers

Solve 2 Foreign Trade questions for RAS/RPSC preparation.

Practice questions

Q1Match List I with List II with reference to figures mentioned by Piyush Goyal on India's exports and economy:\nList I (Item)\nA. FY27 exports target\nB. Cumulative exports in April-May 2026-27\nC. Startup India Fund of Funds 2.0 corpus\nD. Five-year annual exports goal\nList II (Figure)\n1. $1 trillion\n2. $162.69 billion\n3. Rs 10,000 crore\n4. $2 trillion\nSelect the correct answer using the codes given below:

A A-2, B-1, C-3, D-4

B A-1, B-2, C-3, D-4

C A-1, B-2, C-4, D-3

D A-4, B-2, C-3, D-1

Explanation

The correct matching is A-1, B-2, C-3, D-4. The FY27 exports target is $1 trillion; cumulative exports in April-May 2026-27 are estimated at $162.69 billion; the Startup India Fund of Funds 2.0 corpus is Rs 10,000 crore; and the five-year annual exports goal is $2 trillion.

Q2With reference to Piyush Goyal's recent statements on India's exports, consider the following statements:\n1. India has set a target of achieving $1 trillion in exports in FY27.\n2. India and the US have finalised the framework for their proposed trade agreement, but it will take effect only after India secures a tariff advantage over competing nations.\nWhich of the statements given above is/are correct?

A Both 1 and 2

B 1 only

C 2 only

D Neither 1 nor 2

Explanation

Both statements are correct. Goyal stated that India has set a target of $1 trillion in exports in FY27 (over 15% already achieved). He also said the India-US trade agreement framework has been finalised, but the FTA cannot be implemented until India secures a tariff advantage, with duties lower than competing exporting nations.

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